Research
Key Competitors:
Nerf: Offers action-oriented toys but lacks the investment appeal of LEGO.
Barbie: Primarily focused on fashion and role-play, with less emphasis on collectible value.
Hot Wheels: Known for collectible vehicles, but not positioned as a long-term investment.
Bandai Namco: Provides a range of toys and interactive experiences but doesn’t emphasize investment potential.
Category Size and Drivers:
The global toy industry has evolved beyond traditional play, incorporating investment and financial growth opportunities. Recent trends indicate that adult toy demand, including LEGO sets, has surpassed that of preschool toys, reflecting a burgeoning interest in LEGO as both a collectible and an investment. This shift is driven by increasing recognition of LEGO's potential to appreciate, making it an attractive option for financial growth.
Current Positioning:
LEGO is recognized for its creativity and quality, with a strong global presence in both the toy market and among adult collectors. Its collectible value is becoming increasingly apparent, positioning it uniquely as both a play and investment asset.
Brand Personality:
LEGO stands for creativity, innovation, and quality. It is trusted for its durable and imaginative products, which are now also seen as valuable investments. The brand is positioned to appeal to both young builders and adult collectors seeking to diversify their investment portfolios.
Key Insight:
Many teenagers and young adults are looking for ways to secure their financial future without needing to actively manage their investments. LEGO's potential for appreciation offers a unique opportunity for these individuals to begin building wealth effortlessly.
Target Audience Profile:
Psychographics/ Personality Traits
Curious and Creative: They possess a vibrant imagination and a desire to explore new creative outlets.
Strong-Minded: Confident in their opinions and preferences, often setting trends rather than following them.
Driven by Trends: Enthusiastic about popular, trending items and experiences.
Interests:
Tech-Savvy: Highly engaged with computer-focused activities, including gaming, social media, and digital art.
Creative Hobbies: Passionate about music, film, fashion, and sports, exploring these areas through digital platforms and real-world activities.
Innovation Enthusiasts: Drawn to emerging creative spaces and new forms of self-expression.
Challenges:
Lost Imagination: They may feel their imaginative play is overshadowed by technology and societal pressures, impacting their creative potential.
Need for Inspiration: Looking for ways to reignite their creativity and sense of play, which they believe can inspire significant personal and societal change.
Behavioural Traits:
Social Media Engagement: Active on platforms like TikTok, Instagram, and YouTube, where they seek out and share the latest trends and creative ideas.
Early Adopters: Open to trying new tech gadgets, apps, and online communities that foster creativity and innovation.
Community-Oriented: Interested in connecting with like-minded peers globally who share their creative passions and aspirations.
Preferred Channels:
Digital Media: Engages with content through YouTube, social media influencers, and streaming platforms.
Interactive Platforms: Drawn to online spaces that offer creative collaboration, such as virtual reality environments and digital art communities.
Fashion and Music Influences: Follows trends and seeks inspiration from popular fashion brands and music artists.
Marketing Approach:
Highlight Imagination: Showcase how your products or services can reignite their sense of play and imagination.
Emphasise Innovation: Focus on how your offerings align with their interest in cutting-edge technology and creative fields.
Leverage Trends: Use trending topics and influencers to connect with their interests and present your brand as a part of their lifestyle.
SMP
Start Building Your Future Today: Invest in LEGO and Watch Your Wealth Grow Effortlessly
Rationale
At 13-18, many teenagers are seeking ways to secure their financial future but may lack the means or knowledge to actively manage investments. LEGO provides a simple, low-maintenance investment opportunity that can be appreciated over time. By leveraging LEGO's potential for value increase, teens can start building their wealth with minimal effort, setting themselves up for a more secure financial future.
SWOT:
Strategy and Execution
Future Builder Campaign:
1. Investment Education Hub:
- Create a Digital Hub: Develop a website and app section dedicated to educating teens on how LEGO can be a sound investment. Include easy-to-understand guides, videos, and testimonials from young investors who have seen success.
- Interactive Tools: Offer calculators and tools to show potential returns on LEGO investments, making the concept more tangible and appealing.
2. Social Media Blitz:
- Influencer Partnerships: Collaborate with financial influencers and content creators on platforms like TikTok and Instagram to share stories and tips on investing in LEGO. Use hashtags like #LEGOWealthBuilder and #FutureBuilder to create buzz.
- User-Generated Content: Encourage users to share their LEGO investment stories and results. Feature the best stories in LEGO’s official channels.
Investment Challenge:
1. LEGO Future Fund Challenge:
- Annual Contest: Launch a challenge where participants submit their LEGO investment strategies and results. Winners receive exclusive LEGO sets and financial advice sessions with experts.
- Leader board: Create a public leader board showcasing top performers, motivating others to participate and invest.
Interactive Learning Experiences:
1. Virtual Workshops:
- Investment Basics Workshops: Host online workshops that teach the basics of investment using LEGO as an example. Collaborate with financial advisors and educators to provide credible information.
- Live Q&A Sessions: Offer live Q&A sessions with LEGO collectors and investors who can share their experiences and answer questions from the audience.
2. Augmented Reality (AR) Integration:
- AR Investment Insights: Develop an AR app that allows users to scan their LEGO sets to see their potential investment value over time. This interactive feature helps visualize growth and engages tech-savvy teens.
Community Building:
LEGO Investor Community:
- Online Forum: Create an online community where young LEGO investors can share tips, discuss strategies, and connect with others interested in LEGO as an investment.
- Exclusive Content: Offer members exclusive content, including interviews with successful investors, market trends, and investment tips.
Deliverables
Execution 1: Instagram Campaign
Content: Create a series of posts and stories featuring young LEGO investors sharing their experiences, investment tips, and success stories. Use engaging visuals and interactive elements like polls and quizzes.
Engagement: Implement a hashtag campaign (#LEGOFutureBuilder) and encourage followers to share their own LEGO investment stories for a chance to be featured.
Execution 2: YouTube Video Series
Content: Develop a video series showcasing the potential financial growth of LEGO investments. Include tutorials, expert interviews, and real-life success stories of young investors.
Engagement: Use interactive features like clickable links to investment tools and a call-to-action for viewers to start their own LEGO investment journey.
Support and Justification
Short-Term Benefits:
Financial Education: Provide teens with a straightforward way to start investing and learning about financial management, creating immediate value and engagement.
Accessible Investment: Offer a low-barrier entry point into investing, aligning with the financial aspirations of young individuals.
Long-Term Benefits:
Wealth Building: Enable teens to build wealth over time with minimal effort, fostering financial independence and long-term planning.
Brand Loyalty: Strengthen LEGO’s position as a brand that supports not only creativity but also financial growth and future planning.
Additional Resources:
Success Stories: Share articles and testimonials about individuals who have successfully invested in LEGO, highlighting the potential for financial gain.
Data: Present data on the increasing value of LEGO sets and the growing trend of adult toy investment, reinforcing the strategy’s relevance and effectiveness.
